The short (red) and longer term averages (blue) have converged with no white space between them. The RWB up-trend is over. I am holding a little SQQQ and cash (in TBIL) in my trading account. Be careful and limit losses! If the new down-trend exceeds 5 days I will accumulate SQQQ. Beware a possible BWR down-trend.
Thank you for your posts. Look forward to all your insight into the market. Hoping for a buy signal from T2108 in the intermediate future. I appreciate all that you share. ❤️
Money to be made in an upward and downward market. Willingness to be nimble, as our Dr. friend points out, is the key to success.
What needs to happen for the current GMI signal to turn Red?
I believe as of Monday, GMI is red – as I thought the requirement was the GMI-1 must be two consecutive days below 3. Waiting to accumulate a non-significant SQQQ position till the after the 5th day of a downtrend is an excellent idea – I’ll do that also. I will say that it’s easier to keep a short position by going long TQQQ for a few hours when the market has one of it’s furious intraday rallies.